Corcept Therapeutics Inc Stock Price, News & Analysis

Corcept Therapeutics (NASDAQ: CORT) announced interim findings from a Phase 2 trial of miricorilant for presumed NASH. Initial results led to a suspension of the study due to elevated ALT and AST levels in some patients, though these resolved after discontinuation of the drug. Notably, patients showed significant reductions in liver fat within weeks. The trial aimed to enroll 120 participants to evaluate the efficacy of miricorilant, which may address the lack of approved treatments for fatty liver disease. Further research is needed to confirm safety and effectiveness.

Corcept Therapeutics (NASDAQ: CORT) announced promising results from its Phase 2 trial of relacorilant combined with nab-paclitaxel for patients with platinum-resistant ovarian cancer. Patients receiving 150 mg of relacorilant showed significantly longer progression-free survival (median PFS: 5.6 months) compared to nab-paclitaxel alone (3.8 months), with a hazard ratio of 0.66. A lower dose of relacorilant also demonstrated an increase in PFS, although it was not statistically significant. Safety profiles were comparable to monotherapy. Plans for a pivotal Phase 3 trial are underway.

Corcept Therapeutics (NASDAQ: CORT) will report its first quarter financial results and provide a corporate update on May 6, 2021. A conference call is scheduled for the same day at 5:00 p.m. ET (2:00 p.m. PT). The call will allow participants to discuss the financials and updates directly with the management team. Additionally, a replay of the call will be available until May 20, 2021. Corcept specializes in developing drugs targeting severe metabolic, oncologic, and psychiatric disorders by modulating cortisol effects, with its drug Korlym approved for Cushing’s syndrome.

Corcept Therapeutics (NASDAQ: CORT) announced the enrollment of the first patient in a Phase 1b trial of relacorilant combined with pembrolizumab for patients with adrenal cancer and cortisol excess. The trial, involving 20 patients at five sites in the U.S., aims to assess whether relacorilant can enhance the effectiveness of pembrolizumab by reducing cortisol-induced immunosuppression. Relacorilant, a selective glucocorticoid receptor modulator, is also being studied for Cushing's syndrome and various cancers.

Corcept Therapeutics (NASDAQ: CORT) announced Atabak Mokari as the new Chief Financial Officer, succeeding Charles Robb, who has transitioned to Chief Business Officer. This appointment comes as the company prepares for significant operational challenges in 2021. Mokari brings nearly 20 years of healthcare finance experience, previously serving as CFO at Bellicum Pharmaceuticals and IRIDEX. Corcept focuses on developing drugs to treat disorders by modulating cortisol effects, with Korlym^® being a FDA-approved treatment for Cushing’s syndrome.

Corcept Therapeutics reported 2020 revenue of $353.9 million, up from $306.5 million in 2019. Fourth quarter revenue was $85.7 million, slightly down from $87.9 million in Q4 2019. The company achieved a GAAP net income of $106.0 million for the year compared to $94.2 million in 2019, while Q4 net income was $26.0 million versus $29.4 million in Q4 2019. Corcept reiterated its 2021 revenue guidance of $375 – 405 million, and reported cash and investments of $476.9 million at year-end.

Corcept Therapeutics (CORT) reported preliminary 2020 revenue of $353.9 million, a 15.4% increase from $306.5 million in 2019. Q4 2020 revenue was $85.7 million, slightly down from $87.9 million in Q4 2019. The company expects 2021 revenue between $375 million and $405 million. Fully diluted GAAP net income for 2020 was $0.85 per share, up from $0.77 in 2019. Cash and investments rose to $476.9 million. Additionally, the Patent Trial and Appeals Board affirmed the validity of its patent claims.

Corcept Therapeutics (NASDAQ: CORT) will report its preliminary fourth quarter and full-year 2020 financial results on February 8, 2021. A corporate update will accompany the results, followed by a conference call at 5:00 p.m. ET. Participants can join the call by dialing the provided numbers or by accessing the link for a listen-only mode. Corcept specializes in developing drugs that target cortisol-related disorders, with Korlym^® being its flagship product approved for Cushing’s syndrome.

Corcept Therapeutics (NASDAQ: CORT) announces the appointment of Gillian M. Cannon, PhD to its Board of Directors. Dr. Cannon brings over 30 years of pharmaceutical experience, including leadership roles at Merck, UCB, and Otsuka. Her extensive experience in commercial operations is expected to support Corcept's pipeline of cortisol modulators. CEO Joseph K. Belanoff expressed confidence that her background will enhance the company’s ability to innovate in drug development.